THUMBS DOWN: IRS to Target Masked Pumpkin Eaters

Physician's Money Digest, November 2005, Volume 12, Issue 15

Wall Street Journal

Physicians

beware:

The playground chant"cheater, cheater, pumpkineater" now applies toadults, it seems. Accordingto a recent IRS survey, thenumber of Americans whocheat on their income tax returns ison the rise. In addition to underreportingtaxes, cheating also includes tax dodgingand failing to comply with the establishedrules. The disappointing results ofthe first in-depth inspection of taxpayertrends since the late 1980s are likely tocreate a stir in Washington. It's possiblethat the IRS will pay more attention tothe self-employed and tax shelters andCongress will crack down harder oncheaters, the acknowledges.The IRS is definitely determinedto discourage Americans fromcheating on their taxes. High-income taxpayers, US corporations,abusive shelters, and criminalinvestigations will take top spots ontheir priority list, the IRS admits.